EUR/CHF bid above 1.1643 – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the outlook on the cross remains positive above 1.1643.

Key Quotes

“EUR/CHF remains immediately bid and capable of extending gains to the 1.1833 January high where we suspect that it will fail on the initial test. It stays overall bid above the 55 day ma at 1.1643. We have a support line at 1.1779”.

“A close above 1.1833 would introduce scope to the 1.20 psychological level”.

“Below the 55 day ma would target the 1.1603 2015-2018 up trend and failure here would re-target the February low at 1.1448 and potentially a move to the August 2017 low at 1.1259 could unfold”.